Add Listing
    Property Lookup
    • For Sale
    • For Lease
    • Recently Sold
    • Property Lookup
    • Brokers
    2898 Expy Expressway Griffin, GA 30223-7255
    Back to Search
    Property profile & analytics

    2898 Expy Expressway, Griffin, GA 30223-7255

    View on Map
    • Retail space
    • 4,108 SF
    • 1.03 lot acres
    Off-Market
    Last Sale May 28, 2021
    $545,000
    Property ID
    US22-0554427
    The Realmo ID is a unique identifier assigned to every property, incorporating country codes and precise geo-coordinates for 300x300-foot land blocks. It enables standardized data collection and seamless integration of disparate sources such as ownership, tax, title data and physical specifications. By aggregating current and historical records, the Realmo ID powers advanced analytics and delivers deep, verifiable insights for real estate professionals.
    Value Estimations
    $565,000
    Show details
    Cap Rate Potential
    7.9%
    Retail space
    Location Intelligence

    Current Use by Public Records

    • Retail space

    Property Details for 2898 Expy Expressway

    Year built
    2001
    Construction
    WOOD FRAME
    Lot size
    1.03 lot acres
    Zone code
    C-1
    Property type
    Retail space
    APN
    242A-01-002-B
    APU
    242A01002B

    Sales History

    Date Price Buyer Seller Deed Type Mortgage
    May 28, 2021 $525,000 Dbm Rentals LLC Auto Cash INC Warranty Deed —
    Oct 21, 2013 $252,500 Auto Cash INC Hamilton St Bk Grant Deed $206k · United Bank
    Oct 21, 2013 — Hamilton Ste Bk First St Bk Grant Deed · related —
    Oct 18, 2013 $252,500 Auto Cash INC Hamilton State Bank Grant Deed · related —
    Oct 18, 2013 — Hamilton State Bank Federal Deposit Insurance Corp Grant Deed · related —
    May 26, 2009 $455,000 First St Bk Of Stockbridge Evans,f J Trustees Deed · related —
    May 5, 2009 $455,000 The First State Bank Evans,f J Grant Deed · related —
    — — F J Evans — Deed Of Trust · related $461k · First State Bank

    Value Estimations

    based on Realmo’s proprietary methodology

    • AI approach

      Method
      Estimation
      Statistic approach
      $735,000
      ML approach
      $685,000

    • Alternative Use

      Use
      Estimation
      RETAIL STORES
      $445,000
      Current use
      COMMERCIAL (GENERAL)
      $555,000
      Change: +25% Conversion: Easy
      AUTO REPAIR, GARAGE
      $475,000
      Change: +7% Conversion: Difficult
      MEDICAL BUILDING
      $470,000
      Change: +7% Conversion: Difficult

    Get a detailed, property-specific estimation — fast and free

    Location Insight

    • Map
    • Local Demand
    City
    Griffin
    County
    Spalding
    State
    Georgia
    Longitude
    -84.2901
    Latitude
    33.3111
    CBSA code
    12060
    CBSA name
    ATLANTA-SANDY SPRINGS-MARIETTA, GA METROPOLITAN STATISTICAL AREA

    Property Tax & Assessments

    Tax date
    Tax Amount
    Assessed Land Value
    Assessed Improvement Value
    Total Assessed Value
    Applied Tax Rate
    Land Market Value
    Improvement Market Value
    Total Market Value
    2023
    $3,041
    $23,541
    $60,103
    $83,644
    -
    $58,852
    $150,258
    $209,110

    Comparable in this City

    • Value Estimation
      $525,000
      14,053 SF

      115 Solomon St

      RETAIL STORES (PERSONAL SERVICES)
      115 Solomon St, Griffin, GA 30223
      View Details
    • Value Estimation by Request
      2,250 SF

      1028 Drewery Ave

      RETAIL STORES (PERSONAL SERVICES)
      1028 Drewery Ave, Griffin, GA 30223-2228
      View Details
    • Value Estimation
      $545,000
      10,920 SF

      421 Solomon St

      RETAIL STORES (PERSONAL SERVICES)
      421 Solomon St, Griffin, GA 30223-2831
      View Details
    • Value Estimation by Request
      5,104 SF

      117 Hl St

      RETAIL STORES (PERSONAL SERVICES)
      117 Hl St, Griffin, GA 30223-3309
      View Details
    • Value Estimation by Request
      800 SF

      1504 Old Atlanta Rd

      RETAIL STORES (PERSONAL SERVICES)
      1504 Old Atlanta Rd, Griffin, GA 30223-1258
      View Details
    • Value Estimation by Request
      2,326 SF

      222 Solomon St

      RETAIL STORES (PERSONAL SERVICES)
      222 Solomon St, Griffin, GA 30223-3020
      View Details

    Similar Nearby for Sale

    • $470,000
      2,516 SF

      Griffin, GA Retail Building

      Leased retail building in Griffin's booming area, great for investors.
      317 W Taylor St, Griffin, GA 30223
      View Details
    • $470,000
      0.27 Acres

      Griffin, GA Retail Investment

      Leased retail building in Griffin's Central Business District.
      317 W Taylor St, Griffin, GA 30223
      View Details
    • Contact for pricing
      706 SF

      Retail Space For Sale

      Retail space available, 706 SqFt, Griffin, GA.
      721 W Taylor St, Griffin, GA 30223
      View Details
    • $199,000
      3,246 SF

      Griffin Commercial Property with Parking

      3,246 SF commercial space in Griffin, GA for sale.
      702 Experiment St, Griffin, GA 30223
      View Details
    • Contact for pricing
      6,010 SF

      Griffin, GA - Plasma Center

      NNN leased Parachute Plasma on 1.37 acres.
      1301 Expressway N, Griffin, GA 30223
      View Details
    • $450,000

      Griffin Commercial Property on Hwy 16

      Prime commercial property in Griffin's main business district.
      732 West Taylor St, Griffin, GA 30223
      View Details

    Similar Nearby for Lease

    • $245 SF/Yr
      2,000 SF

      Downtown Griffin Commercial Suites Available

      Flexible commercial suites in downtown Griffin, suitable for various businesses.
      109 E Taylor St, Griffin, GA 30223
      View Details
    • $1,300 /Mo
      1,226 SF

      Downtown Griffin Retail/Office Space

      Retail/office space in Griffin's active downtown area.
      128-1/2 S Hill St, Griffin, GA 30223
      View Details
    • $1,500 /Mo
      1,562 SF

      Downtown Griffin Commercial Space Available

      Conveniently located retail/office/restaurant space in downtown Griffin, GA.
      119 W Solomon St, Griffin, GA 30223
      View Details
    • Contact for pricing
      2,000 SF

      Downtown Griffin Flexible Commercial Suites

      Flexible commercial suites available for lease in Downtown Griffin.
      109 E Taylor St, Griffin, GA 30223
      View Details
    • $2,000 /Mo
      69,696 SF

      Griffin Commercial Out Parcels For Lease

      Two commercial out parcels available for lease in Griffin, GA.
      2 Sep Tracts, Griffin, GA 30223
      View Details
    • $3,700 /Mo
      4,712 SF

      Downtown Griffin Upstairs Office Space

      Upstairs office space in downtown Griffin, near courthouse.
      127 E Solomon St, Griffin, GA 30223
      View Details
    Request Owner's contact information
    Message sent successfully
    Error
    If you are the owner or broker of this property and would like to edit or remove this listing please send a message to web site administrator.
    2898 Expy Expressway
    Griffin, GA 30223-7255
    Message sent successfully
    Error
    Email to Your Friends
    Link copied to clipboard
    Separate multiple addresses with a comma
    Message sent successfully
    Error

    Realmo Value Estimations

    Realmo estimates a property’s market value using a proprietary methodology that incorporates public data and user-submitted information. This cumulative value is generated by integrating a variety of conventional and innovative methods. 

    Disclaimer

    These figures are not official appraisals and should not be used as a substitute for a valuation performed by a licensed appraiser.
    Actual market value may differ due to factors not captured in the data. Estimates are offered for informational purposes only, and users should conduct independent research before making financial or investment decisions.
    By using this feature, you acknowledge that Realmo is not responsible for actions taken based on these estimates.

    AI approach

    Realmo AI Method estimates property value using machine learning models trained on millions of comparable listings, transactions, and market signals. It analyzes property features, location intelligence data, and current market dynamics to predict the most probable market value in real time.

    Realmo CapRate Calculation

    Realmo calculates the Capitalization Rate (Cap Rate) to help estimate a property's potential return on investment. The Cap Rate is a fundamental metric in commercial real estate that measures the relationship between a property's net operating income and its market value.

    How We Calculate Cap Rate

    Cap Rate Formula:
    Cap Rate (%) = (Net Operating Income / Property Value) × 100

    Net Operating Income (NOI) Formula:
    NOI = Area × Lease Rate × (1 - Vacancy Rate) × (1 - Operating Expense Ratio)

    Components

    Net Operating Income (NOI) represents the annual income a property generates after operating expenses:

    • Area: Building square footage from property records
    • Lease Rate: Annual $/sqft based on market data for the property type and geographic location
    • Vacancy Rate: Percentage of unoccupied space based on market data for the property type and location
    • Operating Expense Ratio: Operating costs as a percentage of income, varies by property type

    Property Value is derived from:

    • Recent sale price (if available)
    • Statistical models using comparable sales
    • AI-powered valuation estimates

    Example Calculation

    For a 100,000 sqft Office Building:

    • Lease Rate: $25.00/sqft/year (market data for Office in this area)
    • Vacancy Rate: 8% (market data for Office in this area)
    • Operating Expense Ratio: 35% (typical for Office properties)
    • Property Value: $15,000,000

    Step 1: Calculate NOI

    NOI = 100,000 × $25.00 × (1 - 0.08) × (1 - 0.35)
    NOI = 100,000 × $25.00 × 0.92 × 0.65
    NOI = $1,495,000/year

    Step 2: Calculate Cap Rate

    Cap Rate = ($1,495,000 / $15,000,000) × 100
    Cap Rate = 9.97%

    Property Type Considerations

    Net Operating Income calculations vary by property type due to different operating expense ratios:

    • Office: Higher expenses (30-40%) for HVAC, utilities, maintenance
    • Retail: Moderate expenses (25-35%) for common area maintenance
    • Industrial/Warehouse: Lower expenses (15-25%) for minimal tenant services
    • Multifamily: Moderate expenses (35-45%) including property management
    • Self-Storage: Lower expenses (25-35%) due to minimal maintenance

    Market lease rates and vacancy rates are specific to each property type and geographic location, reflecting local market conditions.

    Disclaimer

    These calculations are estimates for informational purposes only and should not be used as a substitute for professional financial analysis or appraisal.

    • Cap Rate calculations depend on market data that may change over time
    • Actual operating expenses, lease rates, and vacancy rates may differ from market averages
    • Individual property conditions, lease terms, and tenant quality significantly impact actual NOI
    • Property value estimates are approximations and not official appraisals
    • Cap rates vary widely by market, property condition, and investment risk profile

    Professional Guidance Recommended: Before making any investment or financial decisions, consult with licensed appraisers, commercial real estate brokers, and financial advisors who can evaluate your specific property and circumstances.
    By using this feature, you acknowledge that Realmo is not responsible for investment decisions or actions taken based on these estimates.

    Cap approach

    Capitalization Method calculates value based on estimated net operating income (NOI) and applying a market-based capitalization rate (cap rate), we estimate what a typical investor might be willing to pay for it.

    Comparable approach

    Comparable estimate is based on recent sales of similar nearby properties, adjusted for factors like size, condition, and location.

    Relative

    Relative property class coefficient uses factors that account for typical price differences between various asset types (e.g., retail vs. industrial) to provide a more accurate market-aligned estimate.

    Geo

    Comparable Sales Method, enhanced by Geo coefficients — location-based adjustment factors that reflect differences in price levels across neighborhoods, cities, or regions ensuring a more accurate, market-sensitive valuation.

    Stat Estimate

    This method estimates value based on actual market adjusted recent (~5 years) sales of comparable properties around by location and property type.

    • Ranges - area data calculated by industry standard IQR Outlier Removal Method
    • Range-from: 75% of all similar sales ($/sqft) are above this value
    • Range-to: 75% of all similar sales ($/sqft) are below this value
    AI Estimate

    This method estimates value based on AI market estimation of comparable properties around by location and property type.

    • Ranges - area data calculated by industry standard IQR Outlier Removal Method
    • Range-from: 75% of all estimations ($/sqft) are above this value
    • Range-to: 75% of all estimations ($/sqft) are below this value
    Alternative use

    Estimate considers the property’s potential value if used for a different purpose-based on zoning, demand, and market feasibility.

    More about this property
    Thanks! Your message was sent.
    Error! Your message wasn't sent.
    Please enter your name
    Please enter email
    Please enter the email in the correct format
    Please enter phone
    Please enter the number in the correct format
    Please enter message
    Thank You

    You are Unsubscribed From Notifications

    Thank You for Inquiry
    2898 Expy Expressway, Griffin, GA, 30223
    letter with green check mark
    Check your email
    We sent you the
    agent's contact details. yellow underline
    Can't find it?
    Please check your junk/spam folder.
    Google sign-in failed. Please try again or use another login method.
    Sign Up Successful!
    You now have access to more from Realmo!